Tor Lund, President and CEO of MIP Inc
Company background and objective of entering brand in the Indian market. MIP is a manufacturer and distributor of high performance textile and related products to healthcare facilities and distributors and outsourced laundry service providers. The company is a market leader in Canada and enjoys significant and growing market positions in the United States, United Kingdom and continental Europe. MIP has manufacturing facilities in Quebec, China and Germany. MIP is owned by Banyan Capital Partners, a Canadian private equity group, and its senior management team.
Objective of entering brand in the Indian Market: “The Indian health care market is growing rapidly and increasingly becoming more sophisticated and we have had the fortune of teaming up with a local team that has the passion, dedication, knowledge as well as shared values with the MIP culture. In addition, there seems to be an increasing need for high quality textile products that support the world class medical infrastructure and expertise that currently exists.”
Investment in Indian market. MIP INC will heavily invest in training of the executive, who will be front line service provider. Primary objective of MIP INC focused is product handling on end to end cycle basis. Reducing human touch during handling is a big challenge and that is the prime reason for taking up ‘Train the Trainers Program’. This team will be able to provide training to each hospital and nursing home executive, who will be handling the product on a daily basis. Team from India will be stationed at Scotland for over 15 days to take this training in the month of January 2020. The year 2020 will be a pilot project for MIP to get into various hospitals and care giving centres for evaluation of life cycle cost. This full year will be dedicated to learning and understanding the pain and pleasure of the user and bringing changes to the product and customizing the products accordingly. 2020 will be Year of Investment for training and collecting data from India on their need.
Manufacturing set up in India or only marketing set up. We are starting with marketing setup, shipping time from Shanghai is just 18 days by sea so the supply support will not be effected at the moment. Manufacturing set up in India is a part of the future plan.
Direct entry or through franchisee channel. MIP INC would like to keep the control under the brand itself. Simple reason, product handling is an important part and without the learning and knowledge our Product will not have the correct representation. So, now we will be in full control of the market through our own executive.
Expected revenue, market share in first year of entering Indian market. Year 2020 will not have any business expectation neither we will go for aggressive marketing. So, our financial projection will have no numbers for India.
Product range in brief and its price. MIP INC as a brand and manufacturing unit produces anything on Bed, anything on nurse or on doctor that any hospital or nursing home uses. Since we are a manufacturer, who believes “Every product is not suitable to everyone”, we will be customizing each of our product and the price will be worked out jointly in discussion with each unit.
Distribution channel model in India. We aim to establish point of contact at all the metro cities of India within 2020 and very next year we will be able to take a call on what is best suitable for India
Promotion strategies for branding in India for brand awareness. Our marketing team based out of Canada is yet to finalize the best method of awareness programme other than our team direct interaction with various units of India.
